When a company submits a Request for Quotation to a number of potential suppliers, it is important not to spend too much time reviewing responses that do not satisfy requirements of the company submitting the RFQ. In most cases when responses to RFQ's come into a company through the mail persons at that company have to review and sort the responses and usually write up a summary of whether the response is acceptable to the company. In addition it is desirable to be able to quickly evaluate potential responses to an RFQ in an efficient and accurate manner.
With the invention of the Internet more and more companies are sending out RFQ's over the Internet. Companies are then responding over the Internet to the company with a quotation. In order to process these quotations efficiently the present invention provides an artificial intelligent system capable of analyzing quotes and extracting information relating to the RFQ.